What is the headline in Straits Times today? What is the topic discussed on 93.8FM this morning?
Bus fare hike, my friends. But it is only 1-2 cents increase next month, you may say. Why is Edgar making a big fuss out of this 2-cent issue?
Assuming a Jane is paying $1 bus fare today, with another 30 years to retirement and that bus fare increase at 2 cents per annum, you would be paying $1.60 for the same trip in 30 years' time.
You would be drawing down on your savings to pay for your daily expenses.
Inflation is a disease that all should be very concerned with.
P/S - China equities experienced their biggest one-day drop in over 2 months yesterday in reaction to news that China's inflation rate surged to a 10-year high last month.
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